Get the Ichimoku Kinko Hyo EA 2.0!

About the Ichimoku Kinko Hyo

The Ichimoku Kinko Hyo Indicator was developed in the late 1930s by Goichi Hosoda and is a Moving Average based trend indicator. It is based on a cloud (called Kumo), which is between the Senkou span A and the Senkou span B line, the Tenkan-sen and Kijun-sen line and finally the Chikou span line. It is included in Metatrader 4 and 5. The default settings are: Tenkan-sen 9, Kijun-sen 26, Senkou Span B 52.

Trade logic of this Expert Advisor

The Ichimoku Kinko Hyo EA 2.0 (also called Ichimoku EA) is a forex robot based on the Ichimoku Cloud, the Tenkan-sen and Kijun-sen and the Chikou Span. It includes 9 Ichimoku based entry strategies, 9 Ichimoku based entry filters and 5 different exit strategies for the Advanced and Pro version (optional).

Entry Strategies (for a long signal)

1. Tenkan-sen/Kijun-sen cross
The EA trades if Tenkan-sen and Kijun-sen lines are equal.

2. Tenkan-sen/Kijun-sen cross
The EA trades the Tenkan-sen and Kijun-sen if the Tenkan-sen is above the Kijun-sen.

Simple Cloud Breakout
The EA trades the Breakout of the cloud if the price gets above the cloud.

Advanced Cloud Breakout
The EA enters a trade if the price breaks through the high of the candle which broke through the cloud.

Tenkan-sen Breakout
Trades the breakout of the Tenkan-sen line out of the cloud.

Kijun-sen Breakout
Trades the breakout of the Kijun-sen line out of the cloud.

Chikou Span Breakout
Trades the breakout of the Chikou Span line out of the cloud.

All in uptrend/downtrend
Enters a buy trade if the Tenkan-sen and Kijun-sen are above the cloud, if the Tenkan-sen is above the Kijun-sen, if the ChikouSpan is above the cloud, if the Cloud is in an uptrend and if the current price is above the cloud.
It is recommended to not use any filter with this strategy.

Only FilterThis strategy only uses the entry filters to enter a trade. If the filter you choose is true, the Ichimoku EA will place a trade (use at least one entry filter).
It is recommended to combine this strategy with an exit strategy and no StopLoss, no TakeProfit and no Trailing functions (only set a high StopLoss as safety net).

Entry Filters

Price above/below cloud

Tenkan-sen above/below cloud

Kijun-sen above/below cloud

Tenkan-sen above/below Kijun-sen

Price is above/below Tenkan-sen

Price is above/below Kijun-sen

Cloud is in uptrend/downtrend

ChikouSpan above/below price

ChikouSpan above/below cloud

Exit Strategies (only Advanced & Pro versions)

If Price breaks cloud from above/below

If Close breaks cloud from above/below

If Tenkan-sen is below/above Kijun-sen

Instantly (Closes the trade instantly on a cross)

Confirmed (Closes the trade only if the exit is confirmed by a new bar)

Close below/above Tenkan-sen

Close below/above Kijun-sen

Parameters for the Ichimoku Kinko Hyo indicator

TimeframeThe timeframe on which the EA should work, regardless of what timeframe your chart is set to. (Default is PERIOD_CURRENT )

Period of Tenkan-sen lineAveraging period to calculate the main line (default is 9)

Period of Kijun-sen lineAveraging period to calculate the main line (default is 26)

Period of Senkou Span B lineAveraging period to calculate the main line (default is 52)

If you set the Virtual TP to 50, the EA will close the trade as soon as the trade is >50pips in profit. The TP and SL are hidden from your broker. If the markets moves fast, the EA will maybe close the trade some pips more in profit e.g. 52 or 55 pips.

Hello.
I bought the Ichimoku EA Pro.
I intended to have it attached to an M1 chart for long positions and at the same time attached to another M1 chart of the same asset for short positions.
The same asset, the same timeframe, one chart for long positions, the other for short positions.
I’ve tried but it did not work: only works on one of the charts even if there is no other open position.
Assign different magic numbers to each of the charts.
It’s possible?

Hi , I bought the ichimoku ea Pro but when i back tested this EA , the result was not good and i used the defult of the this EA ,
So can you say to me wich setting is the best and profitable in M5 time frame ?

I see. The lotSize is calculated based on the SL. You will lose 3% of your account balance if the SL is hit. If you have a large SL like 1000, it is normal that the lotSize is low. You can increase the MM or set the lotSize manually if you want.

Hi Yannick , have you completed this exit strategy so as the trade to exit on real cross of tekan/kijun?

I see. This exit strategy closes the trade immediately and does not wait for a new candle to confirm the exit. I will split this exit signal into 2 functions. “Instantly” and “Confirmed”. It is on my to-do list. You will receive an e-mail when it’s done.

i need my trades to begin with cross and end with tekan kijun cross.

is this on the 2.01 version? if i buy pro it downloads the 2.01?
thank you

I think so – so you would set a stop loss as usual, but you would just let the trade run, and if it is successful, the trade stops when a new signal is generated but in opposite direction (specifically for Strategy 1: Tenkan/Kijun Cross). That way, you would set a Pip Stop Loss number, but not a Take Profit Pip count number for closing the trade. Or should it still have a TP Pip Count?

No, you do not need to set a TP. Yes, you could use the ReverseOnOppositeSigal or one of the Exit Strategies. But you can also only use a Trailing Function. The Ichimoku EA offers you all these possibilities. Using the Strategy Tester (visual mode), you will be able to quickly visualize the different functions on a chart.

Before I go in and buy the pro version I just have a few questions which I hope you can answer. I use the ichimoku manually to scalp on 1 and 3 minute chart with private settings which are not default and I use heiken ashi candles. I wanted to know if any of these would affect the EA functionality?

If i setup Only filter strategy after let’s say a succes buy , EA start another buy…which i don’t want. For example price above kumho filter …EA open buy trades all the time as price is above kumho..but i want only when price breaks up kumho. Does all versions do the same thing?

Hello, I just downloaded Metatrader 4 Basic before buying the PRO.Could you tell me how to use this Basic robot, I put it on MT4 in expert consultant, so that it has access to a maximum of pairs I have to install it on Each pair?
Is there another thing to do to activate it?
Are SLs programmed, yes how many PIPS?
Are setting needs to be changed according to our profile?
Thank you in advance.
Herve

You have to attach the EA to any chart you want to trade on. Enable AutoTrading in MT4 and make sure the smiley in the right above corner is smiling. Yes, there is a SL and TP. You can adjust the values. The EA is not pre-optimized so you have to optimize it first.

I am very confused: I use the pro versions of Moving Avarage Cross and Ichimoku. I got first one entry (bull), after some minuts another entry (bull) and up to three entries (bull). I do not mean to trade three opennings at the same time, I only want a single opening for each EA.

The problem is that the name Harmonic Patterns and the name of the Patterns them self are protected. I would have to give it an other name. Also I have to define the pattern more general and cannot use the same conditions as the Harmonic Patterns does. But I’m sure I can make a good indicator 🙂

It sure is interesting, but 99.99% of the Harmonic Patterns traders never have read the books by Scott Carney, hence most indicators out there or the EA’s don’t work like they should officially.

Other than that, in real harmonics trading one would at least consider to be looking for confluence, to support the patterns. Most EA’s ignore that and hence have poorer performance than live manual trading.
Or what about waiting for a retracement before jumping in on a trade…?

I’m not going to lay out all the details, there are too many….

——
If a pattern indicatior would come out her on Quivo one day in the future, I’d certainly want it to be able to scan multiple TF’s at the same time as well as multiple pairs.
——
Thanks to the MLM company IML Harmonics trading has been hyped like super crazy.
They were a pyramid scheme untill authorities told them to break down the pyramid structure…

Entry strategy
2. Tenkan-sen/Kijun-sen cross
The EA trades the Tenkan-sen and Kijun-sen if the Tenkan-sen is above the Kijun-sen.

Exit strategy
 If Tenkan-sen is below/above Kijun-sen

The entry is perfect because it started after the TS cross the KS,the exit should be the same also but in fact the exit done before the cross Really happened,and this Really affect my trade because mostly the TS go back again even if it was at the same level of the KS.

So can you help me at this and make the exit point occurred after the cross Really happened ,i mean for example at the buy trade it will exit only if the level of the TS is below the KS, not above or equal.

I see. This exit strategy closes the trade immediately and does not wait for a new candle to confirm the exit. I will split this exit signal into 2 functions. “Instantly” and “Confirmed”. It is on my to-do list. You will receive an e-mail when it’s done.